Central Falls, Rhode Island going belly up on Monday, most likely. Watch for this adventure to be repeated throughout the country in the coming year.
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Virtually no city or county anywhere in the US would go bankrupt were it not for public employee unions and laws governing collective bargaining that basically make it impossible to stop increases in compensation and benefits regardless of the ability or willingness of the city or county to pay them.
Get rid of public employee unions, and defined benefit plans and lifetime medical care, and the arcane work rules in the contracts, and it will be possible to regain fiscal health.
Only rarely is the problem bonding for infrastructure projects.
Catorenasci – Seriously?
Can Quahog, RI, be far behind?
Rarely, eh? And Jefferson County was just a one-off, right?
I read projo.com this morning. (The Providence Journal)
One of the many stories about the troubled RI economy is that the Central Falls Police and Firefighters have voted against concessions in their retirement and benefit plans that would have saved the city from bankruptcy. My guess is that many don’t live in central falls or have already retired to other areas and just don’t give a sh*t about the people they were supposed to be protecting all of those years.
When it comes time for discussions on layoffs of police in my town, the big thing is that they always talk about how they provide safety for the residents and how we don’t appreciate the job they do. As far as I’m concerned, the cops are mostly issuing tickets to pay for their own retirement and benefits and are robbing me worse than any random guy who would come in my house and take a TV. because of the high taxes for these pensions, I probably won’t be having my own health insurance plans as I age.
Go to projo.com and see how cold the cops are being.
I’ve got nothing against my local firemen, though. I don’t live in Greenwich anymore, so my comment isn’t meant to malign them, but can tell you that some (not all) of my local cops act like the greasers I’ve always tried to avoid all my life.
Chuck: Yes. Seriously. The seemingly bottomless public employee hog-trough is a huge part of the problem here in Northern California and, I suspect, everywhere.
I hope that everyone remembers, or discovers that JFK first put unions into the public sector as a kick back for the election results.
Public employees do not need a union to protect their rights any more than a fish needs feet. Public unions should be outlawed and all agreements voided.
Public employees should then be given 30 days to sign on under new terms or take their talents and skills to the the private sector.
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